I have been out of work for roughly two years, though I should note that, for religious reasons, I have limited my search to positions involving Rust. Toward the end of last year, however, it seemed that the situation was beginning to improve: new job postings appeared that looked credible, and by the start of this year I had two interviews (both initiated by companies themselves). In one case, I advanced to the later stages of the process and was close to receiving an offer. So I was hopeful things will turn around.

I think, now, given what's happening in the Gulf, you can firmly assume that the recovery will fully stop; if not worse. It's safer to assume that this will not resolve any time soon. I am from near the region, and I know a few friends who had to go back to the country because their jobs/workplace was affected. So that's one job market that's now bust.

Interest rates will remain high, if not go higher. Life will get significantly more expensive with $100+ oil. This will be a global pain, unfortunately.